Do minority acquisitions transfer better corporate governance practices? : An analysis of UK's cross-border minority investments

Peasnell, Ken and Polovina, Nereida (2020) Do minority acquisitions transfer better corporate governance practices? : An analysis of UK's cross-border minority investments. British Accounting Review, 52 (3): 100897. ISSN 0890-8389

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Abstract

This study examines the influence of minority shareholders on the transfer of corporate governance practices into companies in other countries where they invest. By analysing UK firms that acquired a minority ownership in foreign firms between 1993 and 2014, we find evidence of better corporate governance in the board structure of target foreign firms following UK firms taking a minority shareholding, the extent and nature of the changes varying depending on the quality of investor protection in the country the foreign target firm is located. Our findings contribute to the on-going debates on the spillover effect of better corporate governance practices via cross-border mergers and acquisitions as well as relationship between internal (board of directors) and external (country's quality of investor protection) corporate governance mechanisms.

Item Type:
Journal Article
Journal or Publication Title:
British Accounting Review
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1402
Subjects:
?? minority acquisitions, corporate governanceaccounting ??
ID Code:
212068
Deposited By:
Deposited On:
02 Jan 2024 09:25
Refereed?:
Yes
Published?:
Published
Last Modified:
16 Jul 2024 00:41